Renovated Professional Office
New
For Sale
$2,725,000
1150 Perimeter Park Drive, Cookeville, TN 38501
Commercial Sale, Cookeville, TN
Property Size13,499 SF
Lot Size1.60 Acres
Price / SF$201.87
Days on Market2
Property Features for 1150 Perimeter Park Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CR
Security features
Security System
Accessibility
Accessible Approach with Ramp
Lot features
Landscaped
Directions
From PCCH: East on Spring Street to right on Neal to right on Perimeter Park Drive to cul de sac, property on left.
Subdivision
Cookeville NE, TN
Standard status
Active
APN
018.12 000
Size
13,499 SF
Lot size
1.60 Acres
Taxes and HOA fees
Tax Annual Amount
21131
Utilities
Utilities
Electricity Available
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
dual kitchens
break areas
receiving bay
Building Details
Year built
2005
Floors in Building
1
Number of units
2
Building materials
Frame, Brick, Stone
Roof type
Metal
Listing Agency:
Highlands Elite Real Estate LLC
(931) 400-8820
Listed By:
Wayne Russell · License #333678
(931) 260-3743
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 9:06PM
MLS# 247639
Copyright © 2026 Upper Cumberland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2005, this office property contains 13,499 square feet on a 1.6-acre parcel. Improvements were completed in 2019, with further updates in 2025. The interior includes private offices, open bullpen areas, conference rooms, and dedicated training space, along with two kitchens and break areas. A receiving bay supports deliveries, and the building has frame, brick, and stone construction, central air, natural gas heat, and a metal roof. Zoning is CR.
The property is at 1150 Perimeter Park Drive in Cookeville, near the Neal Street and Perimeter Park Drive intersection. The site is within a Qualified Opportunity Zone and has 60 parking spaces positioned around the front, sides, and rear of the building. Reported average annual daily traffic is 11,596 vehicles. Public water and available electricity serve the property, and an accessible approach with a ramp is provided.
The property is at 1150 Perimeter Park Drive in Cookeville, near the Neal Street and Perimeter Park Drive intersection. The site is within a Qualified Opportunity Zone and has 60 parking spaces positioned around the front, sides, and rear of the building. Reported average annual daily traffic is 11,596 vehicles. Public water and available electricity serve the property, and an accessible approach with a ramp is provided.
Key Highlights
- 13,499 SF office building on 1.6 acres
- Constructed in 2005; remodeled in 2019 and updated in 2025
- 60 parking spaces distributed around the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,610
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,732,200
$3.7M
Cap Rate 7%
$2,665,857
$2.7M
Cap Rate 9%
$2,073,444
$2.1M
Market Conditions
NOI Build-Up for 13,499 SF
Gross rent
$311.0K $23.04/SF
− Vacancy
−$62.2K −$4.61/SF
EGI
$248.8K $18.43/SF
− OpEx
−$62.2K −$4.61/SF
NOI
$186.6K $13.82/SF
Area
Putnam County, TN
Vacancy
20.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,732,200
Cap Rate 7%
$2,665,857
Cap Rate 9%
$2,073,444
Alternative Uses
Best Use
Office B
$2.67M
$2.33M – $3.11M
NOI $186,610 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.57M
$4.87M – $6.50M
NOI $389,989 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 38501, TN
41,141
Population
19,158
Households
2.1
Avg Household Size
33
Median Age
31%
College-Educated
88%
High-School Grad
87.1 sq mi
ZIP Area
472
Density / Sq Mi
$50,923
Median Household Income
$30,191
Median Earnings
$856
Median Rent
$245,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A flexible office layout combines private work areas, open collaboration space, training rooms, and employee kitchens.
Where is this office building located?
The property is located at 1150 Perimeter Park Drive Cookeville, TN.
What is the asking price?
The asking price for this property is $2,725,000.
What are key features of this property?
This property features: 13,499 SF office building on 1.6 acres; Constructed in 2005; remodeled in 2019 and updated in 2025; 60 parking spaces distributed around the building
